‘The end of an era’, resolving conflict and the score that matters
In partnership with AUSTRALIAN RED CROSS LIFEBLOOD
Welcome to Partnership Wednesday! Here are 3 ideas from me and 1 question for you to consider this week to create partnerships you never thought possible, plus additional insight from the Partnership+ podcast.
3 IDEAS FROM ME
I.
Use the term "era" instead of "duration" when referring to the length of a strategic partnership, as it encourages a forward-thinking approach by considering the end goal. The phrase "end of an era" often signifies a positive, long-term, and valuable experience, which is what we aim for in strategic partnerships.
Strategic partnerships need time to develop value, typically more than 12 months. Therefore, the minimum era for any strategic partnership should be 2+1 years: a two-year minimum with an additional year that can be extended without renegotiation. This allows teams sufficient time to accomplish meaningful work.
II.
When entering a strategic partnership, it's important to expect at least two benefits for each partner involved. Focus on the core measures of success for your business. Select two key metrics and use them to guide an open conversation with your partner. Remember, in most cases, attracting and retaining more customers (or donors, users) are two of the most powerful indicators of success.
III.
How can you resolve conflicts within partnerships by understanding different perspectives? I was this asked this question from the crowd this week. Here’s my answer:
The keys to resolving conflict often live in the intent of those involved in the conflict. Personal and professional incentives, fear and uncertainty all play a role. While it might be counter-intuitive, favour feedback and perspectives that can be delivered in person and through conversation, and rely less on points of view delivered in writing. It's incredibly difficult to communicate intent in writing, particularly in short forms like text messages. Having conversations allows humans to understand intent by exchanging messages made up of each person's unique blend of language and micro-expressions. And while some conversations can be uncomfortable, they are key to understanding intent and circuit-breaking conflict.
1 QUESTION FOR YOU
What idea could you pitch to an existing partner to grow the relationship and upside for both of you?
Want to share this issue of Partnership via text, social media or email? Just copy and paste this link:
https://philhsc.com/partnership/29-may-2024
Until next week,
Phil Hayes-St Clair - Partnership Expert
Partnership+
Introducing leadership expert, Ryan Hawk. This is such a fantastic conversation and to help you become more familiar with Ryan’s work, I am giving away five copies of his extraordinary new book, The Score That Matters.
To receive your FREE copy (THERE ARE ONLY 3 LEFT), email your 3 favourite takeaways from this episode to hello@philhsc.com
Giveaway ends 31 May 2024. Enjoy!
FROM OUR PARTNER
Life-giving donations for life-changing outcomes. That’s Lifeblood’s purpose and while their life-giving role started 90 years ago with blood donations, today they help more people in more ways than ever before.
Lifeblood is like a well-oiled machine and donors, like you, are their lifeblood. I have donated blood and plasma over 160 times and know the impact these donations have for people in the fight of their life. Right now, Lifeblood’s reserves of most blood types have dropped to critical levels so as a Wednesday Partnership reader, I invite you to donate again or if you’re new to donating, take the eligibility quiz!
Thank you, thank you, thank you.
Don't know where to start with partnerships?
The Wednesday Partnership Newsletter includes 3 ideas and 1 question for you to create business partnerships that you never thought possible.
The latest issue is sent to leaders in Fortune 500 companies, entrepreneurs, educators and small business owners. Join them by entering your email and signing up for free right now.
